Zions Bancorp (NASDAQ:ZION) – Equities research analysts at Jefferies Group upped their FY2017 earnings per share (EPS) estimates for Zions Bancorp in a research note issued on Tuesday, Zacks Investment Research reports. Jefferies Group analyst K. Usdin now expects that the bank will earn $2.79 per share for the year, up from their previous estimate of $2.78. Jefferies Group currently has a “Buy” rating and a $54.00 target price on the stock.
ZION has been the subject of a number of other reports. Piper Jaffray Companies reissued a “hold” rating and issued a $44.00 price target on shares of Zions Bancorp in a report on Tuesday, October 24th. FBR & Co restated a “buy” rating and issued a $54.00 price objective on shares of Zions Bancorp in a research note on Tuesday, October 24th. Barclays set a $52.00 price objective on shares of Zions Bancorp and gave the company an “overweight” rating in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $60.00 price objective on shares of Zions Bancorp in a research note on Friday, December 22nd. Finally, BidaskClub cut shares of Zions Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $54.78.
Shares of Zions Bancorp (ZION) traded down $0.82 during trading on Friday, reaching $54.16. 4,451,448 shares of the company’s stock were exchanged, compared to its average volume of 1,870,000. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. Zions Bancorp has a 12-month low of $38.43 and a 12-month high of $55.61. The company has a market cap of $10,650.00, a P/E ratio of 20.67, a PEG ratio of 1.62 and a beta of 1.45.
Zions Bancorp (NASDAQ:ZION) last issued its quarterly earnings results on Monday, January 22nd. The bank reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Zions Bancorp had a net margin of 21.58% and a return on equity of 9.04%. The firm had revenue of $665.00 million during the quarter, compared to the consensus estimate of $670.55 million. During the same period in the prior year, the firm earned $0.60 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Wednesday, February 14th. This is a positive change from Zions Bancorp’s previous quarterly dividend of $0.16. Zions Bancorp’s dividend payout ratio (DPR) is 24.43%.
In related news, insider Alexander Hume sold 7,196 shares of Zions Bancorp stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $53.87, for a total transaction of $387,648.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Keith D. Maio sold 13,019 shares of Zions Bancorp stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $46.44, for a total transaction of $604,602.36. The disclosure for this sale can be found here. Insiders sold a total of 52,425 shares of company stock worth $2,513,426 in the last ninety days. Insiders own 1.46% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ZION. Steward Partners Investment Advisory LLC boosted its stake in Zions Bancorp by 2,081.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,010 shares of the bank’s stock worth $152,000 after acquiring an additional 2,872 shares during the last quarter. Americafirst Capital Management LLC bought a new position in Zions Bancorp during the 2nd quarter worth approximately $175,000. RNC Capital Management LLC bought a new position in Zions Bancorp during the 4th quarter worth approximately $203,000. Conning Inc. bought a new position in Zions Bancorp during the 3rd quarter worth approximately $210,000. Finally, Janney Montgomery Scott LLC bought a new position in Zions Bancorp during the 3rd quarter worth approximately $212,000. 93.57% of the stock is currently owned by institutional investors and hedge funds.
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Zions Bancorp Company Profile
Zions Bancorporation is a financial holding company. The Company conducts its banking operations through separately managed and branded segments, including Zions Bank, Amegy Bank, California Bank & Trust, National Bank of Arizona, Nevada State Bank (NSB), Vectra Bank Colorado, The Commerce Bank of Washington (TCBW) and Other.
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